USVN vs. CMDT
USVN (US Treasury 7 Year Note ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - USVN is a Government Bonds fund tracking the ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, USVN returned 2.84%/yr vs 12.77%/yr for CMDT. At a correlation of -0.12, they often move in opposite directions. USVN charges 0.15%/yr vs 0.65%/yr for CMDT.
Performance
USVN vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, USVN achieves a -0.76% return, which is significantly lower than CMDT's 15.54% return.
USVN
- 1D
- -0.57%
- 1M
- 0.60%
- YTD
- -0.76%
- 6M
- -0.80%
- 1Y
- 2.94%
- 3Y*
- 2.84%
- 5Y*
- —
- 10Y*
- —
CMDT
- 1D
- -0.25%
- 1M
- -9.16%
- YTD
- 15.54%
- 6M
- 17.61%
- 1Y
- 21.69%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
USVN vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USVN US Treasury 7 Year Note ETF | -0.76% | 7.66% | 0.03% | -0.17% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 15.54% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between USVN and CMDT is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | -0.12 |
The correlation between USVN and CMDT shifts across timeframes, from -0.27 (1 year) to -0.12 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
USVN vs. CMDT — Risk / Return Rank
USVN
CMDT
USVN vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 7 Year Note ETF (USVN) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USVN | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.30 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 2.30 | -1.50 |
| Martin ratioReturn relative to average drawdown | 2.20 | 9.95 | -7.75 |
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Drawdowns
USVN vs. CMDT - Drawdown Comparison
The maximum USVN drawdown since its inception was -8.27%, smaller than the maximum CMDT drawdown of -9.69%. Use the drawdown chart below to compare losses from any high point for USVN and CMDT.
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Drawdown Indicators
| USVN | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.27% | -9.69% | +1.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.68% | -9.46% | +5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -5.85% | -9.69% | +3.84% |
Current DrawdownCurrent decline from peak | -2.72% | -9.46% | +6.74% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -2.75% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 2.19% | -0.85% |
Volatility
USVN vs. CMDT - Volatility Comparison
The current volatility for US Treasury 7 Year Note ETF (USVN) is 1.38%, while PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a volatility of 3.30%. This indicates that USVN experiences smaller price fluctuations and is considered to be less risky than CMDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USVN | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 3.30% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 10.50% | -7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 12.57% | -8.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 12.23% | -6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.78% | 12.23% | -6.45% |
USVN vs. CMDT - Expense Ratio Comparison
USVN has a 0.15% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
USVN vs. CMDT - Dividend Comparison
USVN's dividend yield for the trailing twelve months is around 3.75%, more than CMDT's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.62% | 3.04% | 8.80% | 2.71% |
USVN US Treasury 7 Year Note ETF | 3.75% | 3.81% | 4.07% | 2.91% |
Frequently Asked Questions
USVN and CMDT have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDT has higher volatility (3.30%) compared to USVN (1.38%). In terms of maximum drawdown, USVN dropped -8.27% vs CMDT's -9.69%.
On 3-year performance, CMDT leads with 12.77% vs 2.84% for USVN. On fees, USVN is cheaper at 0.15% per year. On volatility, USVN has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDT has performed better with a 12.77% return vs 2.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USVN is cheaper with a 0.15% expense ratio, compared with 0.65% for CMDT.
USVN has the higher dividend yield at 3.75%, compared with 2.62% for CMDT.
USVN is categorized as Government Bonds, while CMDT is Commodities. USVN tracks ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: US Benchmark Series and PIMCO. Their fees differ too: 0.15% for USVN and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.73 vs 0.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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